Economies like China have made U.S face a lot of competitions in this century, says Snapchat CEO

The new year is upon us - before we start living in what’s our future, for now, we should have a look at what progress did we made in our past. We all know that America has the world’s largest economy by nominal GDP and net wealth. Additionally, the country possesses the strongest technologically equipped firms. However, China is no less than others - technology, diplomacy, soft power influence, and economy are the possible factors that assisted the Country in being recognized as the second most well-built superpower.

This time the start of a new year would mean that we are entering a whole new decade. The CEO of Snapchat told BBC during an interview, that as a new era of global competition will begin, U.S.A should consider it more than important to invest in its future generations.

Evan Spiegel is an American entrepreneur who launched Snapchat on 8th July 2011. He became one of the youngest billionaires after he launched the app when he was 25 years old. This American businessman was studying at Stanford University at that time. He is famously known to have said that the US had faced a tough time in the economy due to its fast-growing competitors like China. This century: which is nearly coming to an end, is owned by the USA’s rival Countries. This is for the first time the U.S.A had to face such loss says the co-founder of Snapchat. The only possible solution to this problem is to think and work for long-run benefits in the future, he added while being interviewed at BBC radio 4.

Spiegel in the interview said that he is convinced to pay more taxes for the sake of his beloved Country’s betterment. He believes that Countries government and its giant technology companies are very interlinked and are nothing without each other. They both should work cooperatively to assist the Country in standing high and ranking above all its competitors. If the Government and technology companies are aiming to own the upcoming century, they should work hard to bring and develop new technologies like artificial intelligence to the country; through research. For technology to be updated, the government needs to invest.

To see itself as the most successful country in economic and all other factors in the future, rather than pointing fingers at the political system, we should focus more on positive things and possibilities that will lead us to success. Enough hard work is required by the U.S.A to let this assumption come true that within the next 10 years, along with China and India it would be the world’s largest economy.


Photo: Michael Kovac/Getty Images

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